The Original Factory Shop (TOFS) has appointed joint managing director Ian Williams as its new chief executive.
Williams, who is currently joint MD and chief financial officer, will take on his new role with immediate effect.
Fellow joint managing director Phil Briggs has left his role after five years.
Briggs’ guided TOFS through the pandemic, put the business on a “firm footing” and was responsible for the opening of 28 stores in the latest financial year, bringing the total store estate to 199.
Williams has extensive experience in retail as he has worked at TOFS for over five years. He previously had senior positions at Asda and American Golf.
Williams said: “I’m excited to be taking on the role of CEO at this pivotal time in TOFS journey.
“Having been with the business for over five years, I understand the important role it plays in many local communities across the UK. It has great growth potential, and we have ambitions to continue opening and investing in even more stores across the UK.”
TOFS chair Alistair McGeorge said: “I am delighted to welcome Ian to his new role. He has extensive retail experience and brings a clear understanding of what is required to keep TOFS on its path toward further growth.
“We’d like to thank Phil for his contribution to the business and wish him every success for the future.”
In December, TOFS renewed its £12m asset-backed loan facility for three more years.
The group said the financing will help “underpin growth plans and show the strong support from the group’s owners and partners in the business’ future”.
The company plans to invest a significant amount to update its existing store estate.
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